« previous next »

Author Question: If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity ... (Read 78 times)

cool

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity demanded, then demand is ________ and total revenue will ________ as a result of the fall in price.
 
  A) elastic; increase
  B) elastic; decrease
  C) inelastic; increase
  D) inelastic; decrease

Question 2

In the figure above, with the tariff American consumers ________ million shirts per year.
 
  A) 40
  B) 48
  C) 32
  D) 16


triiciiaa

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
Independent assortment produces 50 percent recombinants Independent assortment produces 50 percent recombinants
Regular staff meetings increase the efficiency of the medical office staff. Regular staff meetings increase the efficiency of the medical office staff.
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
Convert percent to Fraction Convert percent to Fraction
Video: Physiology of Asthma

For a complete list of videos, visit our video library